Morocco- Spanish Gestamp to Invest in Moroccan Automotive

(MENAFN - Morocco World News) Rabat - Gestamp, the Spanish multinational company specializing in the design, development and manufacture of highly technical metal components for automotive industry, announced the construction of its first plant in Morocco. The first of its kind in Africa, the plant will be a joint venture with the Moroccan automobile supplier manufacturer Tuyauto. The project remains under the approval of the Moroccan authoritie. The factory will be constructed in the Kenitra Atlantic Free Zone near the PSA factory, another major Gestamp customer, along with the Renault-Nissan group. The plant is expected to open in 2019, bringing 120 jobs to the region. The Spanish equipment supplier is opening a new market, where it intends to bring, its expertise in technology and automotive supply. #GestampNews | #Gestamp to enter into Morocco ? https://t.co/y2ruocR66O pic.twitter.com/GKFtxb0erq — Gestamp (@gestamp) February 6, 2018 'Morocco and Africa in general are emerging markets with great potential for growth in the automotive sector," said Francisco J. Riberas, executive president of Gestamp. He added that 'Morocco is a promising country in automotive industry and Gestamp in satisfied for being able to provide its services to its customers in the region.' Gestamp is Spain's largest steel company and one of leading steel manufacturers in the European automotive industry, operating in 20 countries with 95 productions plants. When it was established, it exclusively supplied the automobile manufacturer SEAT. In April 2011, the Spanish giant bought ThyssenKrupp Metal Forming, a division owned by the conglomerate company ThyssenKrupp. Today, the world's leading manufacturers buy steel components that will form the structure of their cars from the Spanish"